“Do not judge, or you too will be judged. For in the same way you judge others, you will be judged, and with the measure you use, it will be measured to you.”
~ Matthew 7:12
By Catherine Austin Fitts
What you are about to read is one of the most important reports of modern financial history yet written. This report is essential to understand the world in which you and I live and what will happen next—this year and for many years to come.
On August 22, 2019, a group of central bankers from the G7 nations gathered in Jackson Hole, Wyoming and voted to approve the Going Direct Reset. We know this because Pam and Russ Martens published an article about it on June 5, 2020 at their website, Wall Street on Parade. That article—and the Martens’ extraordinary continuing coverage of the “ongoing financial coup d’état”—is why Solari chose them as the Solari Heroes of the Year for 2020.
It’s called “Going Direct.” That’s the financial bailout plan designed and authored by former central bankers now on the payroll at BlackRock, an investment manager of $7 trillion in stock and bond funds. The plan was rolled out in August 2019 at the G7 summit of central bankers in Jackson Hole, Wyoming – months before the public was aware of any financial crisis. One month later, on September 17, 2019, the U.S. Federal Reserve would begin an emergency repo loan bailout program, making hundreds of billions of dollars a week in loans by “going direct” to the trading houses on Wall Street.
~ Pam and Russ Martens
I described these events in The State of Our Currencies, which The Solari Report published in 2020. After doing so, I knew we needed to drill down to understand in much greater detail what the Fed and the global central bankers were doing. For that I turned to attorney John Titus, whose coverage of Fed actions—during the 2007-2008 financial crisis and subsequent bailouts and now during the extraordinary central bank interventions of 2019 and 2020—has been exceptional. Would John research and write a report on the Going Direct Reset?
Fortunately, John said yes, and here is the result. I have read it many times and will no doubt read it many more. There is no spy or mystery novel that has ever touched this report as a page-turner. It would be unbelievable if it were not true. In John’s words:
The “novel” coronavirus pandemic marks the greatest turning point in U.S. monetary history since the creation of the Federal Reserve in 1913. The Virus Pandemic and the Federal Reserve are fascinating historical figures for many reasons, starting with the deceptions their very names work on the public. “Federal” Reserve falsely implies that “the Fed” is an agency of the federal government when in fact it is a cartel of 12 private banks acting in concert from different locations to skim interest payments off the top of the U.S. money supply in perpetuity. “Coronavirus pandemic” deliberately misdiagnoses the real disease at the root of the current crisis, which is not in fact any virus (hint: it has a 99+% survival rate) but rather a radical plan for the eventual takeover of the U.S. monetary system by the privately owned Federal Reserve.
~ John Titus, The Going Direct Reset
John joined me for a discussion of this report in January 2020. The video is posted on the commentary for the Going Direct Reset for the 2020 Annual Wrap Up at Solari. Make sure you listen to this discussion as well as reading this report.
John’s analysis gives us the specifics we need to effectively communicate that what is happening is not an economic downturn, but an economic “turndown.” A handful of central bankers agreed to shut down the global economy, and they did. Governor Kristi Noem of South Dakota—a state that did not shut down its economy, its churches or its small businesses—said in a recent speech that Covid-19 did not shut down the U.S. economy, the government did. She was on the right track but did not go far enough. It was not the government—it was the central banks. The balance of power that has existed for more than a century—with the central banks running monetary policy and electorates in the Western democracies voting in legislators and executives who oversee fiscal policy—is over. The long slow erosion of electorate power that began with the financial coup and globalization in the mid-1990s has culminated in a process of consolidation.
The central bankers have taken over. They are “going direct.”
What this means—and what we do about it—is a discussion that is ongoing at The Solari Report. What began with the central bankers’ vote on August 22, 2019 will continue for years. Indeed, the head of the European Union just announced that we will be living with “pandemics” for at least a decade. “Pandemic” is the new euphemism for financial coup and the radical reengineering of global governance.
For the millions of wonderful scientific and medical professionals who are bravely trying to prove that governments are somehow misinformed on the science, rest assured: they are not misinformed. They are simply marketing the Going Direct Reset. And until we see that clearly, their plans will continue to succeed. We need to deal with the coup leaders and their goals rather than become embroiled in their cover stories. We need to address the lie at its source. We need to understand the purpose and direction of the vision rolling out across the globe. As author Jasun Horsley has stated:
Perhaps the hardest thing to imagine about the secret life of the cryptocracy is that it isn’t a subculture at all: it’s a superculture. It’s an underworld that rules over each and every one of us, and trying to see it is like trying to imagine a fifth dimension from the perspective of a fourth. Yet we also belong to this parallel world and it has always been there, acting on us in ways both invisible and oppressive—oppressive most of all because invisible. For what we fail to see continues indefinitely.
The question I keep asking myself is “Why?” Why would Jerome Powell, chairman of the Federal Reserve, and his colleagues vote to throw hundreds of millions of people out of work? One recent estimate was that 500 million people globally lost their jobs or income, which has now adjusted to approximately 250 million unemployed.
An academic study published in 1982 indicated that a 1 percent increase in the U.S. unemployment rate would be associated with “37,000 deaths [including 20,000 heart attacks], 920 suicides, 650 homicides, 4,000 state mental hospital admissions and 3,300 state prison admissions.”1
If we apply these estimates to the U.S. increase in unemployment, from a rate of 3.5% to a high of 14.8% and trending to 6.7% by the end of 2020, that would mean as many as 400,000 deaths in the U.S. alone.2 Globally, the number of deaths would be in the many millions.
This is why it is essential to understand that the Going Direct vote was a declaration of war. It was the financial equivalent of dropping a series of nuclear bombs. The central bankers knew they were voting to kill millions of people.
Again, this raises the question of “Why?” Why would Jerome Powell and his colleagues choose to start a global genocide that would radically and quickly increase billionaire wealth?
The fact is that this decision was not the result of events in 2019. It was the inevitable result of events long ago in Washington, a chain reaction that started when the financial coup began—and trillions of dollars started flowing out of the U.S. government, financed by explosive debt levels.3
In 1998, I was in the midst of shutting down my company, Hamilton Securities, which was under a multipronged attack by the Department of Justice (DOJ) and the Department of Housing and Urban Development (HUD) run by then-HUD Secretary Andrew Cuomo. The chief of staff to the Senate appropriations subcommittee chair at the time described HUD as being run as “a criminal enterprise.” Cuomo had kickstarted the financial coup with extraordinary amounts of money going missing from HUD, defined by Kelly O’Meara’s famous article, “Why is $59 billion missing from HUD?”4
I had been warned that this would happen by the head of the largest pension fund in the country. I tell the story in my online book, Dillon Read & Co., Inc. and the Aristocracy of Stock Profits:
I first learned of this plan from the President of CalPERS, the California Public Employees’ Retirement System, the largest pension fund in the country. The CalPERS President warned me in the spring of 1997, “They have given up on the country. They are moving all of the money out starting in the fall.” That was the fall of 1997 – the beginning of fiscal 1998. Billions started to go missing from the Department of Housing and Urban Development (HUD) as HUD, with the help of the Treasury, the Federal Reserve, the NY Fed and Department of Justice, began to engineer the largest housing and mortgage bubble in our history.
I will never forget sitting at Hamilton as I was shutting down the company. Billions were disappearing from HUD. And billions were suddenly showing up at one of the Washington private equity firms. One night, a former Dillon Read colleague turned up unannounced at Hamilton. He had been hired by this Washington private equity firm to help manage their new China investment fund. All of Washington was amazed and wondered how a relatively new firm with no investment track record had succeeded in raising so much money out of the blue to invest in Asia.
My former Dillon Read colleague was clearly at Hamilton to spy on me. The private equity firm was in the process of financing two of my former Hamilton board members—one also a former colleague at Dillon Read. Both, I believed, were instrumental in pulling the rug out from under Hamilton. That is how economic warfare works—the moves on you are usually outside-in and inside-out. And another former Dillon Read colleague had just joined the private equity firm: Jerome Powell. That is where Powell made his millions, as billions flowed out of the coffers at HUD and the U.S. Treasury.
In 1998, Powell and Cuomo were on one side of the financial coup. I was on the other. Our current positions remain the same.
I bring up Cuomo because it turns out that after Jerome Powell started the Going Direct Reset in August 2019, Andrew Cuomo led the effort to engineer the deaths required to create the fear necessary to shut down Main Street, providing air cover as the Fed turbocharged its printing press. The central bankers printing money is only the first step; shutting down the economy is equally essential for the money they print to buy assets at bargain basement prices and do so without hyperinflation. Stated another way, there are two sides to the disaster capitalism equation—cheap money and real asset availability at cheap prices. Desperate people sell cheap. Main Street cannot compete for natural resources and labor if it is closed—and Amazon and Walmart can suck up their market share.
For many years, Solari Report subscribers have heard me say that the financial coup shifted the money set aside for the boomers’ retirement. We had apparently “decided to fund space rather than nursing homes.” When I wrote Does Your Pension Fund Have a Deep State Drain? in 2017,5 I again hammered on what this would mean for the availability of funding for retirements and health care in the coming decades. Long-time subscribers of The Solari Report have heard the warnings many times.
As I write this, there is a bipartisan chorus of calls for Andrew Cuomo to resign as Governor of New York, after one of his staff let slip the fact that Cuomo ordered the numbers fudged on New York nursing home deaths. Actually, these were not deaths—they were murders. While multiple New York hospital facilities lay empty, Cuomo had seriously ill elderly people transferred into nursing homes, where they lay ill at close proximity to the other residents. Not surprisingly, sickness spread. This was a form of biowarfare.
Now, with information about Cuomo’s actions leaking out, some 10,000 to 15,000 families and multiple nursing homes likely have the basis of successful litigation against Cuomo and the State of New York. The price tag on this could be $10-$15 billion if it gets going. This may be why the federal government has abruptly announced an investigation. This is traditionally how you put a freeze on civil discovery and the damaging questions that could be asked and the answers that would leak out as a result.
However, a federal investigation cannot stop New York impeachment proceedings. State Republicans have announced they are moving forward with impeachment hearings. And because the Democrats clearly do not want to have a broader discussion about why they are winning elections by murdering the elderly, we are being drowned in sudden sexual harassment charges against Cuomo. The latest headlines read, “59 Dems call for Cuomo resignation.”
There is that number “59” again. That is one Democratic legislator for every one billion dollars that went missing from HUD in fiscal 1999 under Cuomo’s leadership. Why is this important? It is important because Cuomo’s “desk killing”6 is not new, having begun in 1998 and 1999. The murder of the elderly in New York in 2020 was the inevitable result of the decisions made decades ago to shift the money out of the U.S. government. When you defund pension, retirement, and health care promises, the only way to balance the books is by lowering life expectancy. It’s actuarial algebra.
The newspapers are also full of stories about the rise of China. Connect the dots between the money leaving HUD while money is flowing into a Washington private equity firm with a huge China investment fund, to the Chinese announcing an economic development zone on the moon, to elderly nursing home residents dying in New York. This is like the Pillsbury Doughboy—squeeze down on one part of the money, and it pops up in the other part.
Once more, I come back to why. Why would Andrew Cuomo and Jerome Powell choose to take actions that they knew would kill so many people? These are two people I have known and worked in close proximity to personally. While I can easily see Cuomo killing 10,000 to 15,000 elderly for political gain, Powell’s personality is not that of a person who lacks empathy. And yet if you look at the Going Direct Reset, the actions of Powell and his colleagues will kill millions more than Cuomo—and many more than the policeman standing trial for the death of George Floyd in Minneapolis. I assume the private equity firms and investors that finance the real estate around the Minneapolis Fed—available, after the riots, for pennies on the dollar—will no doubt profit.
Though it may feel uncomfortable to ask ourselves such questions, what would you or I have done, sitting in their shoes? What do they know that you and I don’t know? What are the powers and intelligence they are subject to—including knowledge about geophysical risks—that would, in their view, justify such acts? Now imagine a story line that might cause you or I to do the same.
My original Red Button Story—in which 99 of 100 spiritually evolved individuals were unwilling to “come clean” financially—is more relevant than ever.7 Though I mention Cuomo and Powell, as we watch the Going Direct Reset unfold, we see millions of people implementing its various financial and economic aspects. I would say that the co-conspirators bringing in totalitarian control—while poisoning and destroying human civilization—include a large percentage of the general population. As long as many of us continue to bank with New York Fed member banks or, in myriad other ways, signal our own unwillingness to look in the mirror, changing the trajectory of the Reset will be difficult.
This is why I quote Matthew, “ judge not, lest ye be judged.”
So, the question is not just why Cuomo and Powell are doing this. The question is, why are the rest of us helping, going along, or promoting? I don’t know about you, but replacing democracy with a high-tech slave state run by the “Iron Bank” is not something to which I wish to contribute.
Nonetheless, we must face the fact that the central bankers are moving in to take over sovereign governments and Treasury functions around the world as the debt—for which we as citizens and property owners are responsible—continues to explode. The financial coup is moving into a dangerous consolidation phase.
The Solari Report team and I will keep looking for answers. The pathway is to bring transparency, one day and one piece at a time. It is like a jigsaw puzzle. We keep putting new pieces on the board and fitting them into the bigger picture.
John Titus just put a big new piece on the table. The 2020 Annual Wrap Up: The Going Direct Reset comes to you with my highest recommendation. This is essential intelligence for the road that lies before us.
Catherine Austin Fitts
March 10, 2021
1 See John Crudele, “Is unemployment really as deadly as coronavirus?” New York Post, April 20, 2020. https://nypost.com/2020/04/20/explaining-the-link-between-unemployment-deaths-amid-coronavirus/.
2 See Trading Economics, “United States unemployment rate.” https://tradingeconomics.com/united-states/unemployment-rate.
3 See Solari’s missing money coverage at https://missingmoney.solari.com and https://hudmissingmoney.solari.com.
4 See Kelly Patricia O’Meara, “Why is 59 billion missing from HUD?” https://www.dunwalke.com/resources/documents/ArticleScans/Sized/Insight-59B_Missing_2005-11-07_v5a.pdf.
5 2017 Annual Wrap Up: Does Your Pension Fund Have a Deep State Drain? https://pension.solari.com.
6 According to Wikipedia, “The term ‘desk murderer’ (German: Schreibtischtäter) is attributed to Hannah Arendt and is used to describe state-employed mass murderers” who plan and organize kills “without taking part in killings personally.” https://en.wikipedia.org/wiki/Desk_murderer.